MARKETS

Oilex acts quickly to ensure it has cash

ASX-listed smallcap Oilex only had cash and cash equivalents of $402,261 at December 31, so it is no surprise the company has moved to conduct an urgent capital raise in light of current market volatility.

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Yesterday the oil and gas explorer, which is dual-listed on the ASX and London Stock Exchange sub-market AIM, told shareholders it was looking to raise A$500,000 through a placement of 227.3 million...

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